Samsung Electronics, the world's top maker of memory chips and smartphones, has reported a record quarterly profit, boosted by once-off gains and record sales of high-end phones.
The South Korean firm, which surged past Apple as the world's top smartphone maker in the third quarter, is quickly building on its supremacy with sleek designs and a rich product line-up.
Samsung is also weathering a squeeze on its memory chip business with new revenue sources such as mobile processing chips and high-end OLED displays. Key rivals are increasingly turning to Samsung for components to power their tablets and smartphones.
The South Korean firm today posted a 5.2 trillion won ($4.5 billion) quarterly operating profit, ahead of analysts' forecasts.
The result would top Samsung's previous record profit of five trillion won earned in the second quarter of 2010 and is up 22% from the preceding quarter.
Once-off gains expected in the fourth quarter include around 500 billion won from the sale of its hard disk drive business to Seagate Technology and reduced mobile provisions involving royalty payments.
Samsung entered the smartphone market in earnest only in 2010, but its handset division is now its biggest earnings generator.
Sales have skyrocketed thanks to a slick production system that rapidly brings new products to market and has mitigated weakness in its component business of mainly memory chips and flat screens.
The company is Asia's most valuable technology firm with a market value of around $150 billion.
Smartphone shipments are forecast at a record 35 million in the fourth quarter, up 25% from the preceding three months, when it first surged past Apple as the world's top smartphone seller.
Its latest Galaxy Note model, which runs on fast fourth-generation (4G) networks, is touted by some followers as a "phablet" as its 5.3-inch display and powerful dual-core processor makes it work as both a tablet computer and smartphone.
Its successful debut in some European and Asian markets during the year-end holiday season has raised hopes for a solid US launch in coming months.
